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News and Information Article
FAYETTEVILLE, W.Va., March 2 // -- Land Resource Companies has
acquired ownership of the Rush Creek property of nearly 4,300 acres in Fayette
County. The official transaction was completed yesterday.
"We are proud to be joining the many landowners in Fayette County who are
so committed to the positive development of the county and the region," said
General Manager and Fayette County resident Tom Wagner. "The finalization of
this transaction ensures our ability to protect and preserve the environment
from further degradation for generations to come," he added.
Since last summer, Land Resource Companies has been meeting and working
with Fayette County residents and elected officials as they move forward in
the development of a 3,600-acre master planned community to be named Roaring
River.
"Ownership also affords us greater opportunities to bring incredible
economic and environmental benefits to the residents of Fayette County,"
Wagner noted.
The Roaring River project is estimated to generate $1.1 billion of new
economic activity for the county and surrounding region. Preliminary estimates
from a study by the Bureau of Business and Economic Research at West Virginia
University show a projected increase in beneficial tax revenues to the county
and state of nearly $12 million over the course of the project.
In terms of helping to preserve the environment, the plans for Roaring
River include new waste-water treatment facilities. Land Resource Companies is
also working with county and state officials to support the retrofitting of
the existing landfill on the property. Roaring River is also providing sewage
treatment capacity in its onsite system to help replace some existing county
septic systems, which are presently failing.
An Atlanta-based company, Land Resource Companies has been developing
unique waterfront and mountain communities since 1997. Land Resource Companies
specializes in acquiring, developing and marketing residential communities,
which offer a comfortable lifestyle choice while preserving the existing
environment and history of the areas in which they are located. For more
information, please visit http://www.landresource.com.
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